Must-know When Dealing With Credit Repair Companies

A lot of people with credit repair issues are left undecided as to what route should they take in getting out of credit repair

. The decision to choose between seeking help from credit repair companies or do things on your own can be a bit crucial. In case that you may decide to take the credit repair companies route, you have to consider several things before finally signing the contract with one of the credit repair companies that you may think can help you.

First thing that you ought to do should you happen to choose the credit repair companies method of dealing with your credit repair problem is that you need to conduct a research. Study about the company that you want to deal with first before making your initial inquiry or visit. As you do your research, you can contact the BBB to check if any of the credit repair companies that you are eyeing have pending complaint or issues with their clients. This will give you an idea about the efficacy of the credit repair company that you are about to deal with. Another firm that can help in checking the credibility of the credit repair company is the attorney generals office.

After knowing all the things that you need to know about credit repair companies, your next task is to arm yourself with information about your rights as a consumer. Remember that credit repair companies need to stick to specified guidelines issued by the Credit Repair Organization Act. A thorough and detailed explanation about this act is a must before you sign up any contract. The goal if this is to protect and inform you of your rights as a consumer.

It does not matter what type of firm you choose to deal with as the contract given by credit repair companies need to contain 5 important things which should always be present in all contracts regardless of the firms name or rates. First thing that a contract needs to have is the presence of terms of payment, services and total cost. Another thing that any contract with any credit repair companies needs to have is a detailed description of the services that the credit repair company will do on your account. It will also contain the estimated length of time in order for you to see the results. Most credit repair companies offer guarantees, if they offer one to you, be sure that it can also be found on the contract. Other than that, information such as business address, contact number, company name, website and the like should also be on the contract.

In case you change you mind in an instant, you are fully protected by the grace period. There are times when credit repair companies threaten their clients who decide to cancel for breach of contract. This is wrong as these credit repair companies can not start working on services that you have agreed upon until you have signed the actual contract followed by a 30-day grace period. Should you decide to cancel before three days, you are entitled to have your money back.

by: Louie Pinto

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